Korean Wave Expands: Hallyu's Global Reach Grows

South Korean entertainment firms are increasingly focusing on international markets, like India, Latin America, and the Middle East, to expand their cultural exports amid rising protectionism. With government backing, successes like BTS and 'Parasite' highlight a burgeoning sector still dwarfed by traditional manufacturing.

South Korean entertainment companies are seizing the opportunity of the Korean Wave, or Hallyu, to extend their influence globally. As traditional manufacturing faces protectionist barriers, cultural exports are fast becoming a strategic focus for Asia's fourth-largest economy.

Despite recent successes on the international stage, the sector's economic contribution remains modest compared to giants like Samsung and Hyundai. Yet, with breakout hits like boyband BTS and Oscar-winning 'Parasite', these companies are rapidly expanding into new markets such as India, Latin America, and the Middle East.

Key players like HYBE and CJ ENM are driving this expansion, with initiatives like new talent auditions and strategic partnerships in varied markets. Although cultural exports won't outpace manufacturing soon, rising government support and the promise of untapped markets signal a growing shift in focus.

(With inputs from agencies.)